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2) Longer loan tenures will better prepare you for future interest rates increase. Due to the long-term nature of the home loan, it is wise to anticipate interest rate fluctuations, which may happen throughout the loan tenure. While banks offer two types of home loans â fixed rate home loan packages where fixed rates usually apply for an initial period before floating rates apply, and floating or variable home loan packages where interests are tied to a reference interest rate â home buyers should anticipate that spikes in interest rates directly mean spikes in monthly payment as well. A longer loan tenure gives you a safety net against interest spikes.